The
Forbes report cited only anonymous sources "familiar with the
situation." Business Insider could not independently confirm the
report. And it said it was unclear whether Thiel was the only
person funding Hogan's case. Request for comment from multiple
Thiel-associated entities went unreturned.

Hogan, a professional wrestler whose real name is Terry Gene
Bollea, sued Gawker for publishing a video clip in 2013 of him
having sex. In March, a jury awarded Hogan $140 million in
damages. Gawker has said it will appeal the verdict.

Denton told The Times he started suspecting something strange
about the case after Hogan dropped a claim for "negligent
infliction of emotional distress." That claim would apparently
have required Gawker's insurance to pay for its defense and its
potential payouts.

Dropping the claim meant Gawker would have to pay out of its own
pocket, but it also would have potentially resulted in a lower
payday for Hogan.

Nick
Denton, left, and A.J. Daulerio during the trial for Hulk Hogan's
lawsuit against Gawker in St. Petersburg,
Florida.AP Photo/Steve Nesius,
Pool

A separate report in The Times late Tuesday, citing a "person
briefed on the arrangement," said Thiel helped fund the expenses
of Hogan's legal team.

What links Hogan to Thiel, the cofounder of PayPal, is unknown,
beyond a shared hatred toward the gossip-heavy site.

Thiel once compared the site to Al Qaeda. Gawker reportedly outed
Peter Thiel as gay in 2007 and continued to publish pieces on the
topic. That prompted Thiel,
during a 2009 interview, to compare Gawker to a terrorist
organization.

"I think they should be described as terrorists, not as writers
or reporters," Thiel said at the time. "I don’t understand the
psychology of people who would kill themselves and blow up
buildings, and I don’t understand people who would spend their
lives being angry; it just seems unhealthy."